Turtle43

ProSeries Tax Idea Exchange

Submitted by on ‎10-27-2023 07:44 PM

I could not find a place to enter the info in the Partners Capital Account Analysis section of a Form 1065 K-1 for a client. I think this is important as from year to year, the activities such as Current Year Net Income (Loss), Other increase and decrease as well as Withdrawals and Distributions would be best to track inside Proseries. I mainly use Proseries Basic and sometimes Proseries Basic.

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sjrcpa
Level 15
‎10-27-2023 07:58 PM - edited ‎10-27-2023 07:59 PM
‎10-27-2023 07:58 PM - edited ‎10-27-2023 07:59 PM

ProSeries does not have a basis worksheet.

It is important to track basis. Create your own spreadsheet and keep in your workpapers.

Turtle43
Level 3
‎10-27-2023 08:09 PM
‎10-27-2023 08:09 PM

Thank you!  I was hoping I don't have to use my own spreadsheet 🙂  Thanks for confirming Proseries does no have the Partners Capital Account Analysis.  Appreciate your response.  I was also hoping to add as a suggestion to add to the function of ProSeries.  Thanks!